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20121207
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speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit high today. they are teaming up with china mobile, giving access to the world's biggest mobile phone markets. >>> if you just got up, very warm welcome to the start of your global trading day. stocks are on the front foot this morning. this is where we stand with u.s. futures. currently called up around about 30 points higher. the dow down, what, 13 points? the nasdaq called up just under 40 points. the s&p 500 at the moment is called up just over three points. it was down two points yesterday. european stocks doing a little built better. they were as flat as a pancake, as i've been saying. as flat as my pancakes. we have just come down from higher levels. the ibex up .2 of a percent. overnight we saw china leadersh
might be stuck. a senior administration official told us that president obama and john boehner had a phone wallace night and politico was reporting that the phone call was curt. they said on the call john boehner told the president to leave the tax cuts for the rich alone. the president says he doesn't want to do that. he's going to stick with his plan to raise $1.6 billion in revenue and if republicans have something better they should be specific now. eric cantor said republicans are already going further than they did in the same spot in 2010. >> we have done our part. we have put revenues on the table, something we didn't do two years ago during the debt ceiling negotiations. >> we've seen some positive developments in the last several weeks, in terms of what republicans have been saying about the need for revenue as part of a balanced package. the president will continue to make the case that that is essential. >> reporter: so both sides saying revenue is on the table, now the fight is obviously to figure out where it's going to come from, how the government is going to make m
, according to the republicans, unserious, it flabbergasted the speaker of the house, john boehner. though tim geithner went out yesterday and said, that plan that we're pushing? it's a good one. here he is. >> we think that's a very good set of proposals. we think that's what's good fort economy. if they've got different suggestions, they want to go further in some areas, they should lay it out to us. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. this offer doesn't remotely deal with entitlement reform in a we to save medicare and medicaid and social security from imminent bankruptcy. it raises $1.6 trillion on job creators that will destroy the economy and there are no spending controls. i'm serious about revenue. you can limit deductions to 40 or $50,000 a person, which takes care of the middle class, upper income americans will lose their deductions and raise about 800 billion dollars in revenue. but i'll only do that if we do entitlement reform and the president's plan, when it comes to entitlement reform is just quite frankly, a joke
skirmish here between the speaker of the house john boehner and erskine bowls. boehner said this was based on a report that bowles laid out. bawls said no. he said the approach laid out does not represent the simpson-bowles plan or the bowles plan. in fact what bowles is is that the speech that boehner based his proposal on was something that bowles had laid out in the middle of the negotiations last year as the mid-point between two sides but bowles is saying today that the mid-point has changed, a lot has changed since last year and it's up to the negotiators to figure out where that mid-point is and where and if they can get a deal, larry. >> we'll leave erskine bowles to his own devices. this is not perfect. i'm not writing it. it's not perfect. here's boehner literally bending over backwards, rising above partisanship and the white house just slaps him down. slaps him down. don't they know how bad they are starting to look? only on the basis that boehner didn't raise tax rates on the rich but does have a tax concession on deductions. this is getting pretty silly. if the president want
meetings with john boehner. >> gretchen: it is annoying to see just a campaign. how many people are tired of a campaign speech. why not come to the table and figure it out. i don't understand it. >> steve: at this point, both sides know what they will give up. what their concessions will be. they don't want to go first. we are 33 days away from the official fiscal cliff and sailing off of it . in the washington post they describe a sense much gloom descending over the capitol, bowles meet and he sees one and three chance of an agreement before january. but mr. bowles had met with the president the day before and president had flexibility about that higher tax rate. he wants 39.6 percent. maybe he would take 36, seven,. >> brian: or raise the thres hold. >> gretchen: why would the president be in a negotiating position . he won reelection . >> steve: this is behind the scenes. >> brian: leverage we can go back to recession. you cannot blame george bush because he is in dallas. here is president obama yesterday and you heard from charles krauthammer. >> familis and small businesses can enjo
're never going to embrace that. >> but john boehner yesterday moved two tea party people off the budget committee. >> he better be careful because he could get fired very easily. >> i saw yesterday on twitter already there was a fire boehner -- >> he almost got fired last year. >> he's been on the bubble for some time now. although, i'm under the impression and reporting has suggested that the relationship between the two camps has gotten better. but clearly if you're eric cantor, why wouldn't you want to be speaker of the house? >> all right. >> all right. you guys are -- were you okay in the green room? nobody separated you two, did they? it was a civil? >> no, we get along. >> in the green room -- >> any bagels in there for you guys? >> no, we don't eat bagels. >> guys on monday got bagels. >> the bagels were there? >> it's all good. >> i judge what we think -- >> i'm jewish, when i walk into a room, i immediately know if there are bagels. >> did you get a tree? >> a holiday tree? >> yeah. >> you do? >> my wife says no, they're too messy. >> the christmas tree is the celebration of s
view what makes sense for the country. >> meantime john boehner says that his party has a plan and he has already offered dozens of alternatives. >> you can cap deductions at a percent of income, that would be one way to get there. could you eliminate certain deductions for those wealthiest in our country. >> joining us on the topic is david walker. he's on his way here right now. >> and in global market news, a lot of talk about china this morning. a final reading of hsbc's manufacturing purchasing manager's survey for china rising in november, first time above the key 50 mark which indicates expanding rather than contraction. it's been since october of last year. also abroad greece announcing it will buy back bonds through a dutch auction. the set up whether allow athenss to assess the level of demand before setting a final bryce for the deal. part of the country's efforts to cut its about a along debt. and in germany, merkel is not ruling out the possibility of notifying greece some of its debt once athens finances are in better shape. angela merkel told a german tabloid that the q
with john boehner. >> gretchen: as hong as they don't ask. here are the headlines. a scare for franky muniz who rose to fame for malkare olm in the middle. >> it is the video . desense -- desensitized to violence. how many have you had. >> gretchen: the 26 year old recovering after suffering from a min i stroke. they are awaiting results. they noticed that nuniz had trouble understanding word and speaking. >> brian: he has to take better care of himself. >> steve: meanwhile, a mother could face crimminal charges if she doesn't bring her daughter back to the hospital. cops are searching for 11 year old emily who suffers from leukemia. her mom removed her iv and snuck her out of the arizona and took off to who knows where. doctors say emily is at riskk of infection and could die within days. >> brian: a cheerleader making a recovery after falling five stories . back in october. page rocky was at a party, ridiculous in a way . unbelievably good and fell 39 feet out of a apartment window. she had brain damage and now she's in rehappen and walk talking again and thankful for the outpouring of su
. >> ended up 85 for the day. >> i guess the demise of john boehner as speaker was greatly exaggerated. did you see this "new york times" piece? more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl those a >> boston in the city can get like that. last night i was thinking in my mother was still alive, ci
Search Results 0 to 8 of about 9